And the most expensive place to live in Britain is…

Halifax reveals the most expensive place to live in Britain is Kensington and Chelsea, while the least is Stanley in County Durham (Picture: PA)

The most expensive area to live in Britain is Kensington and Chelsea, according to new research by Halifax.

Properties in the swanky neighbourhood come with an average price tag of £10,854 per metre squared.

The top 20 most expensive areas in Britain are all London boroughs and the 48 most expensive are all in London and the south east.

They compare starkly to Stanley in County Durham which has the lowest average price at £818 per m² – 13 times less than Kensington and Chelsea.

Craig McKinlay, Mortgages Director, Halifax, said: ‘House price per square metre is a useful measure for house price comparison because it helps to adjust for differences in the size and type of properties between locations.

‘While there are areas in central London that are more expensive than anywhere else in the country, there are notable pockets outside the South East where property also has a high price per square metre.

‘Many of those areas experiencing the strongest increases over the past few years are those with the highest price per square metre.’